Given the ratio of the profit share between the business partners Mr. Jake and Mr. Sebastian as 3:2, and the total profit as 24,000, the profit share received by Mr. Jake is 14,400.
The ratio of the shares of business partners Mr. Jake to Mr. Sebastian given to us is 3:2.
So we assume Mr. Jake's share of profit to be 3x, and Mr. Sebastian's share of profit to be 2x.
Thus, the total profit between them is 3x + 2x = 5x.
The total profit given is 24,000.
Thus, we get an equation:
5x = 24000,
or, x = 24000/5 = 4800.
Thus, the share of profit Mr. Jake receives is 3x = 3*4800 = 14400.
Thus, given the ratio of the profit share between the business partners Mr. Jake and Mr. Sebastian as 3:2, and the total profit as 24,000, the profit share received by Mr. Jake is 14,400.
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